The U.S. Financial institution Harley-Davidson Visa Secured Card will not be considered one of our top-rated secured bank cards. You may evaluation our listing of the very best secured bank cards for what we predict are higher choices.
Full Assessment of U.S. Financial institution Harley-Davidson Visa Secured Card
desk of contents
- Execs Defined
- Cons Defined
- Who This Card Is Greatest For
- Harley-Davidson Bonus
- Rewards Incomes Particulars
- Rewards Redemption Particulars
- Transferring Factors
- Find out how to Maximize Your Rewards
- Normal Advantages
- Cardholder Expertise
- Safety Options
- Closing Verdict
Execs
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A strategy to construct or rebuild your credit score
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Affords rewards
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Safety deposit earns curiosity
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No annual price
Cons
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Rewards solely good for Harley-Davidson gear
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Prices international transaction charges
Execs Defined
- A strategy to construct or rebuild credit score: One of many benefits of a secured bank card, just like the U.S. Financial institution Harley-Davidson Visa Secured card, is that it supplies a strategy to construct or rebuild your credit score. If you happen to can’t qualify for an unsecured card, having a secured card that studies to the foremost credit score bureaus may also help you enhance your credit score rating and in the end be eligible for an unsecured card.
- Affords rewards: Most secured bank cards, just like the Capital One Platinum Secured, will assist you construct credit score with accountable use, however often don’t can help you earn rewards. The cardboard affords rewards, albeit solely ones that may be redeemed for Harley-Davidson gear.
- Safety deposit earns curiosity: When you’ll should make a safety deposit with the U.S. Financial institution Harley-Davidson Visa Secured card, you’ll earn curiosity on that deposit. So long as the issuer doesn’t should dip into your account to cowl unpaid payments once you transfer on from the cardboard, you will obtain your safety deposit again with the earned curiosity.
- No annual price: You don’t should pay an annual price with this bank card.
Cons Defined
- Rewards solely good for Harley-Davidson gear: The U.S. Financial institution Harley-Davidson Visa Secured card solely means that you can redeem rewards for Harley-Davidson purchases or reward playing cards. In contrast to a number of different secured playing cards that do supply rewards, there are not any different redemption choices, corresponding to money again. The one assertion credit you may get are to cowl Harley Davidson purchases.
- Prices international transaction charges: This card imposes international transaction charges. If you happen to use it abroad, you’ll should pay a price of two% on U.S. greenback transactions, and three% on international forex transactions.
Who This Card Is Greatest For
The U.S. Financial institution Harley-Davidson Visa Secured card is geared toward die-hard Harley lovers who must construct their credit score and might’t qualify for a non-secured bank card on account of restricted credit score historical past or a bad credit score. It has no annual price, which makes it an reasonably priced choice and pays rewards in Harley-Davidson reward playing cards.
For many who need a secured bank card with extra versatile rewards, the Uncover it Secured is likely to be a good selection. It additionally has no annual price, nevertheless it affords precious money again rewards that you need to use for something.
Though the Harley-Davidson Secured Card makes use of a safety deposit as collateral, you're not assured to be authorized. U.S. Financial institution will nonetheless test your credit score historical past by requesting your credit score report.
It is best to permit 7-10 enterprise days for U.S. Financial institution to make their credit score approval determination. If you happen to ship your software by mail, you must permit for a further couple of days for the financial institution to obtain your software first. Whenever you apply on-line, U.S. Financial institution receives your software instantly.
U.S. Financial institution Harley-Davidson Visa Secured Card’s Bonus
There’s no one-time supply with this secured card. Nonetheless, every time you employ this card, you’re entered right into a sweepstake to win a Harley-Davidson bike. If you happen to join the H.O.G. membership program, you get two entries per buy into the sweepstakes.
Rewards Incomes Particulars
Incomes rewards is pretty easy. For every greenback you spend on purchases utilizing the U.S. Financial institution Harley-Davidson Visa Secured card, you get 1 level.
Rewards Redemption Particulars
As talked about above, the factors you earn through the use of the U.S. Financial institution Harley-Davidson Visa Secured card can solely be redeemed with Harley-Davidson. For each 2,500 factors you earn, you get a $25 reward card. This makes factors value one cent every. Utilizing Actual Time Rewards, you may get computerized assertion credit to cowl Harley-Davidson purchases too.
Transferring Factors
There isn’t any strategy to switch factors you’ve earned with the cardboard. They will solely be used at approved Harley-Davidson shops and dealerships.
Find out how to Maximize Your Rewards
One of the simplest ways to maximise your rewards is to make use of this card for all of your purchases. Upon getting sufficient factors, you possibly can redeem them for Harley-Davidson reward playing cards which might be good for gear and different objects. With a purpose to benefit from your factors, it’s necessary to repay the cardboard in full every month. This may assist you keep away from paying curiosity. In any other case, the curiosity fees you’d incur are more likely to be greater than the worth of any rewards you’ll earn.
It’s additionally potential to maximise your total rewards through the use of the U.S. Financial institution Harley-Davidson Visa Secured card at the side of one other card. For instance, the Uncover it Secured card affords 2% money again at gasoline stations and eating places in your first $1,000 in purchases every quarter. When you’ve reached that restrict, you could possibly use the cardboard for different bills. Moreover, the Uncover card’s rewards are extra versatile, offering money again, quite than reward playing cards. Nonetheless, sustaining two safety deposits won’t be possible for many secured card clients.
U.S. Financial institution Harley-Davidson Visa Secured Card’s Normal Advantages
- $0 fraud legal responsibility
- Emergency money and card alternative
- Auto rental collision injury waiver (secondary protection)
Cardholder Expertise
U.S. Financial institution is the issuer of this bank card. Within the J.D. Energy 2022 U.S. Credit score Card Satisfaction Examine, U.S. Financial institution obtained a rating of 791, which was properly under the typical. Within the examine, U.S. Financial institution was ranked ninth out of 11 nationwide card issuers.
This card additionally supplies entry to your VantageScore credit score rating, so you possibly can monitor whether or not your rating is enhancing.
For comfort, you possibly can handle your account utilizing the U.S. Financial institution app, which is obtainable for Android and iOS.
Safety Options
If somebody makes a fraudulent buy along with your U.S. Financial institution Harley-Davidson Visa Secured card, you gained’t be on the hook, as Visa supplies $0 legal responsibility for unauthorized purchases. Moreover, this card comes with chip expertise designed to make your transactions safer.
Closing Verdict
If you happen to’re searching for a bank card that may assist you set up or rebuild your credit score, and you may’t qualify for an unsecured card, the U.S. Financial institution Harley-Davidson Visa Secured card is likely to be an excellent match. This card doesn’t cost an annual price, and it studies your funds to the foremost credit score bureaus. Moreover, you possibly can earn rewards with this card. Nonetheless, you should be a Harley-Davidson fan to make the most of these rewards, since you possibly can solely redeem them for Harley-Davidson reward playing cards or cowl Harley-Davidson purchases in your assertion.
If you happen to would quite have a secured card with extra versatile rewards, the Uncover it Secured, which pays cash-back rewards and likewise has no annual price, is likely to be a more sensible choice.
